Helium (HNT) Price Forms Bullish Reversal Pattern, Targets $5
The post Helium (HNT) Price Forms Bullish Reversal Pattern, Targets $5 appeared on BitcoinEthereumNews.com.
Helium (HNT) price has recently received traders’ attention as its price depicts price breakout. The asset has formed a bullish reversal pattern, signaling an upward move in the coming months. With strong volume, positive indicators, and an increasing market interest, HNT is targeting the $5 price level. Double Bottom Pattern Signals Potential for Growth HNT price is currently trading at 3.8777 with a 4% price surge in the 24 hour trading chart. The price of helium has made a strong double bottom pattern on the price chart, a bullish reversal pattern. The pattern implies that the downward trend is coming to an end and that the HNT is ready for a reversal to a higher price. 1-Day HNT Trading Chart| Source: Trading View The breakout was above the neckline in the pattern, near the $3.87 level. This marked that the market is bullish and with it, the price is likely to run towards $5 in the short term. This double bottom setup usually indicates upside potential to potentially hit new highs for HNT price, as the market shows more confidence and strong buying pressure. Technical Market Indicators Support the Bullish Trend For HNT Price RSI for HNT was at 66.50. This means the overbought signal has not yet begun to flash. This means that there could be more surge in the price before it becomes overbought. The uptick in buying volume is further supported by the rise in buying volume as reflected in the Cumulative Volume Delta (CVD). Market participation is strong and that is also backing the buying pressure further confirming the bullish trend. Another sign that points to an upward trend is the MACD indicator. Since the MACD line is above the signal line, it means the positive growth can continue. Open interest has also improved 10.72%…
